London Daily

Focus on the big picture.
Sunday, Jul 19, 2026

JD Sports chairman rejects criticism of £4.3m bonus

JD Sports chairman rejects criticism of £4.3m bonus

The chairman of JD Sports has rejected criticism of a large bonus he received after the retailer benefited from millions of pounds in Covid support.

JD Sports executive chairman Peter Cowgill

Peter Cowgill told the BBC that the "lion's share" of the £4.3m bonus related to work done pre-January 2019.

He also rejected suggestions the firm should repay furlough money.

Shareholder advisory group Glass Lewis has urged investors in the sportswear chain to vote against what it calls an "inappropriate" pay policy.

Shareholders will get a chance to vote at JD Sports' annual general meeting on 1 July, although this would not be binding.

Mr Cowgill told the BBC's World at One programme that the pay boost in 2020 resulted from a long-term incentive share plan (Ltip), and that he had received only one payout from the scheme in the past eight years.

"Over that period the [firm's] profits went from £82m to £420m," he added.

Mr Cowgill said the firm had correctly used the furlough scheme to support jobs, and should not volunteer to pay it back as rivals Primark and Asos have done.

He said Primark was part of a larger firm, AB Foods, whose profits benefited from strong sales of food last year, while Asos was a pure online player which did not have the same overheads.

Mr Cowgill said it was possible investors might vote against his pay package, but added: "Why would you when the company has progressed, it's provided increasing levels of employment throughout?

"It's expanded internationally, it's created continued growth."

As a non-essential retailer, JD Sports' shops were closed for long periods during the pandemic and the firm received £61m through the UK furlough scheme and an estimated £38m in business rates relief.

It has also benefitted from an additional £25m in wage support from other countries where it operates. JD Sports was also provisionally granted an emergency £300m loan from the Bank of England, although the company points out that it was, in the end, not needed and never accessed.

At the same time, the chain saw its revenues rise in 0.9% last year to £6.1bn as its sales shifted online, although its pre-tax profits fell 7%.

Mr Cowgill's bonus was agreed in January 2019 and several instalments were deferred due to the pandemic, then subsequently paid.

Taking this into account, he said his bonus last year was actually £1.3m - down 75% on the previous year.

Newsletter

Related Articles

0:00
0:00
Close
Brothers Andrew and Tristan Tate Who Turned "Toxic Masculinity" Into a Brand Arrested in Miami as Britain Seeks Their Extradition
Ukrainian Drone Barrage Kills Eight and Strikes Russian Logistics Network
Key Trends to Watch
Financial Conduct Authority Warns Cloud and Digital Risks Are Becoming a Financial Priority
Jeffrey Donaldson Appeals Sexual Abuse Conviction as Democratic Unionist Party Opens Review
Welsh Health Authorities Launch Emergency Meningitis Vaccination Programme for Students
Scottish Business Activity Falls for Third Month as Companies Face Rising Costs
Bank of England Regulators Demand Better Access to Digital Banking Services
United Kingdom Cuts Bilateral Aid to Several African Countries by Up to Ninety Per Cent
United Kingdom Introduces Tougher Deportation Rules After Rochdale Exploitation Scandal
NHS England Launches Wearable Technology Plan to Reduce Sepsis Deaths
Amazon Web Services Billing Error Sends Trillion-Dollar Invoices to British Companies
Bank of England Takes Direct Regulatory Role Over Major Global Cloud Providers
Extreme Summer Heat Drives Record Fire Risk and Rising Deaths Across Britain
United Kingdom Nationalisation of British Steel Sparks Diplomatic Dispute With China
United Kingdom Economy Shows Weak Growth Ahead of Major Autumn Budget
Andy Burnham Set to Become United Kingdom Prime Minister After Labour Leadership Victory
The Ten World Cup Finals That Defined Football History
Smartphones Are Getting More Expensive, Sales Are Collapsing, and Even Apple Admits: "Prices Will Rise"
The Monaco Bombing Has Become a Test of Ukraine’s Intelligence Accountability
Leadership Change and Strategic Rivalry Redraw the Political Map
Energy Risk, Uneven Growth and the New Geography of Global Capital
The AI Race Enters Its Infrastructure Era
Security and resilience remain long-term national priorities
Britain balances growth ambitions with public finance pressures
Regional devolution becomes a defining theme of the next Labour era
Industrial strategy returns to the centre of British economic policy
Political Instability Remains a Challenge for UK Investment Confidence
Brexit Economic Debate Continues as Public Concerns Over Long-Term Impact Remain
UK Climate Risks Rise as Met Office Warns Extreme Weather Is Becoming More Common
Housing Shortages and Regional Inequality Become Key Priorities Under Incoming Labour Leadership
National Health Service Reform Remains One of Britain’s Biggest Political Challenges
Bank of England Remains at Centre of UK Economic Debate Over Inflation and Growth
UK Economy Shows Recovery Signs but Households and Businesses Remain Under Pressure
Britain Deepens European Defence Cooperation as NATO Allies Seek Stronger Security Capabilities
United Kingdom Expands Sanctions Against Russian Cyber Networks Over Security Threats
UK Industrial Strategy Faces Test After Government Takes Control of British Steel
British Businesses Seek Policy Clarity as Andy Burnham Prepares to Lead Labour Government
Andy Burnham’s Labour Leadership Signals Major Shift Toward Regional Power and Devolution
British Steel Nationalisation Creates New UK-China Tensions Over Control of Strategic Industry
For 36 Years, He Scammed About 300 Luxury Hotels — Until He Was Caught
England's World Cup Exit Expected to Cost Hospitality and Retail £334 Million
Former ICC Prosecutor Aide Speaks Publicly About Allegations Against Karim Khan
Opposition Raises Questions Over June Heatwave Power Grid Pressures
Mastercard Explores Sale of Majority Stake in UK Payments Operator Vocalink
Boeing Forecasts Global Commercial Aircraft Fleet Will Double by 2045
London GP Surgeries Receive £18 Million to Expand Primary Care Capacity
Health Advisers Recommend Nationwide Meningitis B Vaccination for Teenagers
OECD Warns UK Economy Faces Slower Growth and Weak Productivity
Treasury Places Major Global Cloud Providers Under Direct Financial Oversight
×